Bollywood stars and startups: Ayushmann Khurrana is latest entrant to the club

From the success of Badhai Ho to Andhadhun to Dream Girl, Ayushmann Khurrana’s growth trajectory is showing an upward trend. And in such a scenario taking the right investment decision will only add to his overall brand value.

After investing in Helios Lifestyle Private Limited, the startup behind leading men’s premium grooming products brand The Man Company (TMC), the actor is the latest entant to the club, which includes Deepika Padukone and Sunile Shetty.

Talking to Moneycontrol, Vinay Kanchan, brand storyteller and innovation catalyst and author of Sportivity, said: "Stars of today are far savvier about their financial position and resources compared to previous generations. They are young and energetic and they want to be part of the startup revolution. This has become an interesting investment option for celebrities. Previously, they would invest in land, or real estate or in movies."

The startup boom has given celebrities new and interesting investment options.

"These people are actually looking at businesses. The Man Company, which is a male grooming startup, has direct link to Ayushmann's personality. He is the modern man of today, he has made it in its own without having a godfather in the film industry and he is willing to experiment. Many Bollywood celebrities will start investing in startups," Kanchan added.

Earlier this year, Padukone invested in Drum Foods International Pvt. Ltd, maker of flavoured yogurt Epigamia. And around the same time, actor Suniel Shetty invested in Pune-based fitness startup SQUATS.

Fitness and tech have been two major sectors where celebrities have shown strong interest. Fitness is no surprise as celebrities can associate well with the space on a personal level. All the Instagram posts and videos of workout sessions is a testament to how serious celebrities are about their fitness regime.

In addition, the fitness industry is growing on the back of the behavioural change amid the younger population who is more concerned about their health.

Similarly, the male grooming space is also seeing good growth. Plus, Bollywood, along with cricket, has a lot of influence on the male grooming market, Hitesh Dhingra, Founder and MD, The Man Company, had said in an earlier interview with Moneycontrol.

Hence, Khurrana's investment could be in the right direction.

According to an Assocham report, male grooming industry stands at Rs 16,800 crore in India and is likely to touch Rs 35,000 crore by 2021.

This is probably why a company that was launched in 2015 has been growing 100-120 percent year-on-year. According to Dhingra, The Man Company will double its revenue, and by this year, it will also double its user base courtesy its offline expansion.

Currently, The Man Company has 1.5 million customers.

Another interesting aspect is that some celebrities are not only investing in startups but also endorsing the product like Deepika Padukone or Priyanka Chopra for Bumble, a dating app or Ayushmann Khurrana.

Such a model is a win-win for both startups and stars.

"If there is a synergy in what a company does and a star's journey in life then it makes sense. Because then they are not financially investing in a startup they are also emotionally investing in the startup because their face is the face of the startup. So, I think that would also result in far closer involvement with the management of the company and I think far more input in what the company eventually is doing. So, in a way you can call this corporatisation of their brand image," said Kanchan.